Exclusive: Investors call for governments to toughen climate accounting - letter

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LONDON : Investors managing more than US$2.5 trillion have called on governments to compel companies and auditors to file financial accounts aligned with the world's net zero emissions target, a letter seen by Reuters showed.Writing to UK climate czar Alok Sharma ahead of the next round of global climate

LONDON : Investors managing more than US$2.5 trillion have called on governments to compel companies and auditors to file financial accounts aligned with the world's net zero emissions target, a letter seen by Reuters showed.

It follows a recent study by Carbon Tracker and the Climate Accounting Project that found more than 70per cent of the world's heaviest-emitting companies did not disclose the full risks in their 2020 disclosures, with 80per cent of audits showing no evidence the risk had been assessed. Despite investor bodies representing US$100 trillion in assets calling in September for Paris-aligned accounts, the inaction from companies and auditors meant government action was needed, the investor group said.

 

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